AI Takeaway
SoFi Technologies delivered 23.1% revenue growth to $619.4M in FY2025, achieved a 77.7% net margin driven by a $481.3M net income, but saw operating cash outflows worsen sharply to -$3.74B as the balance sheet expanded 39.7% to $50.7B, reflecting aggressive loan origination and deposit growth.
Revenue
$619.35M
++23.10% YoY
EPS (Basic)
$0.42
-8.70% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-K filing
SoFi grew total revenue 23.1% year-over-year from $503.1M to $619.4M in FY2025, reflecting continued momentum across its lending, financial services, and technology platform segments as the company scales its member base and product adoption.
Source: Source: 10-K Income Statement (XBRL Financial Data)
Total assets surged 39.7% to $50.7B from $36.3B, with cash and equivalents nearly doubling (+94.2%) to $4.93B, indicating significant capital deployment into loan origination and deposit-funded growth, supported by $13.1B in financing cash inflows.
Source: Source: 10-K Balance Sheet & Cash Flow Statement (XBRL Financial Data)
Cost of revenue grew 31.9% to $609.0M, outpacing revenue growth of 23.1%, which compresses gross margins and signals increasing costs associated with scaling lending operations, interest expenses, and technology infrastructure.
Source: Source: 10-K Income Statement (XBRL Financial Data)
2 more insights available
Upgrade to unlockSoFi generated -$3.74B in operating cash flow in FY2025, a dramatic deterioration from -$1.12B in FY2024. The company relies heavily on financing activities ($13.1B inflow) to fund operations and loan growth, creating vulnerability to capital market disruptions or tightening credit conditions.
Source: Source: 10-K Cash Flow Statement (XBRL Financial Data)
Unlock 4 more detailed risk analysis
Upgrade to unlockReported EPS of $0.13 versus the $0.12 analyst consensus — a +9.7% beat for FY2025.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $619.35M | $503.12M | +23.10% |
Cost of Revenue | $609M | $461.63M | +31.92% |
Net Income | $481.32M | $498.67M | -3.48% |
EPS (Basic) | $0.42 | $0.46 | -8.70% |
EPS (Diluted) | $0.39 | $0.39 | 0.00% |
R&D Expense | $648.33M | $551.79M | +17.50% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $50.66B | $36.25B | +39.75% |
Total Liabilities | $40.17B | $29.73B | +35.14% |
Cash & Equivalents | $4.93B | $2.54B | +94.20% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $-3.74B | $-1.12B | -234.21% |
Investing Cash Flow | $-6.72B | $-4.82B | -39.37% |
Financing Cash Flow | $13.11B | $5.03B | +160.39% |
D&A | $234.15M | $203.5M | +15.06% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Net Margin | 77.7% | — | — |
ROA | 1.0% | — | — |
SoFi grew total revenue 23.1% year-over-year to $619.4M in FY2025, up from $503.1M in FY2024. This growth reflects continued expansion across its lending, financial services, and technology platform businesses as SoFi scales its member base.
SoFi delivered strong top-line growth of 23.1% and a net income of $481.3M with a 77.7% net margin, but operating cash flow deteriorated sharply to -$3.74B as the company aggressively expanded its balance sheet by 39.7% to $50.7B. Cost of revenue grew faster than revenue (31.9% vs. 23.1%), highlighting ongoing cost pressures.
Yes, SoFi reported net income of $481.3M in FY2025, though this was down 3.5% from $498.7M in FY2024. The high net margin of 77.7% is largely driven by non-operating income items common in financial services, such as gains on loan sales, rather than pure operating profitability.
Key risks inferred from the financial data include heavy reliance on external financing (with $13.1B in financing inflows needed to fund operations), rapidly rising costs outpacing revenue growth, and significant credit risk from a 39.7% expansion in total assets to $50.7B driven by loan origination. Investors should review the full 10-K risk factors section for management's complete disclosure.
SoFi's balance sheet grew substantially to $50.7B in assets with $4.93B in cash (up 94.2%), indicating strong liquidity, but the company carries $40.2B in liabilities and generated -$3.74B in operating cash flow. While net income remains positive at $481.3M, the business model is capital-intensive and dependent on continued access to deposit and debt markets.